Buhari accepts new minimum wage

A significant development in Nigeria!

According to reports, President Muhammadu Buhari has accepted the new minimum wage of N30,000 (approximately $82 USD) for federal workers in Nigeria. This decision was announced on April 18, 2019, after a meeting with the National Minimum Wage Tripartite Committee, which consisted of representatives from the government, labor unions, and the private sector.

The new minimum wage is a significant increase from the previous minimum wage of N18,000 (approximately $49 USD), which has been in place since 2011. The increase is expected to benefit over 45 million workers in the country, including federal civil servants, who will receive the new wage from April 2020.

The decision to accept the new minimum wage is seen as a major victory for the labor unions, who have been pushing for a wage increase for several years. The unions had been demanding a minimum wage of N65,000 (approximately $180 USD), but the government had initially proposed a wage of N24,000 (approximately $66 USD).

The acceptance of the new minimum wage is expected to have a positive impact on the economy, as it will increase the purchasing power of workers and stimulate economic growth. It is also seen as a step towards reducing poverty and improving the standard of living for many Nigerians.

What do you think about this development?